FIRM OVERVIEW

LOS ANGELES OVERVIEW 2000 Avenue of the Stars 9th Floor, South Tower Imperial Capital is a full-service investment offering a uniquely integrated platform of comprehensive Los Angeles, CA 90067 services to institutional investors and middle market companies. We offer sophisticated (310) 246-3700 | (800) 929-2299 services to institutional investors and a wide range of advisory, capital markets and NEW YORK restructuring services to middle market corporate clients. Paired with our proprietary research and sales & 277 Park Avenue trading desk analysis, we provide investment analysis across an issuer’s , including bank 48th Floor loans, debt securities, the hybrid/bank capital marketplace (through our ELP Framework), post-reorganization New York, NY 10172 equities, special situations claims and listed and unlisted equities. Our comprehensive and integrated service (212) 351-9700 | (800) 371-7087 platform, expertise across the global capital structure, and deep industry sector knowledge enable us to LONDON provide clients with research driven ideas, superior advisory services, and trade execution. We are quick to Imperial Capital (International) LLP One Eagle Place identify opportunities under any market conditions and we have a proven track record of offering creative, London SW1Y 6AF proprietary solutions to our clients. +44 (0) 20 7650 5400 Imperial Capital’s market expertise and research coverage include the following sectors: Aerospace, Defense BOSTON & Government Services, Airlines & Transportation, Business Services, Consumer, Energy (Clean & Traditional), 101 Arch Street Suite 1762 Financial Services, General Industrials, Healthcare, Media & Entertainment, Real Estate, Lodging & Leisure, Boston, MA 02110 & Homeland Security and Technology & Telecom. (617) 478-7600 | (888) 478-9696 Imperial Capital has three principal businesses: Investment Banking, Institutional Sales & Trading and CHICAGO Institutional Research. 200 South Wacker Drive Suite 3100 Chicago, IL 60606 INVESTMENT BANKING (312) 674-4713 We bring in-depth experience to leverage our sales & trading capabilities. Our investment banking team HOUSTON is dedicated to advising on and implementing creative, value-enhancing solutions for our corporate and 1330 Post Oak Blvd institutional investor clients. Suite 2160 Houston, TX 77056 ►►Highly specialized talent and services (713) 892-5601 ►►Key services: Debt and Equity Financings, M&A Advisory, Restructuring Advisory MINNEAPOLIS ►►Broad expertise with middle market companies 60 South Sixth Street Suite 3720 ►►Ability to leverage sales and trading expertise into investment banking opportunities Minneapolis, MN 55402 (612) 692-6900 | (888) 692-1660 CAPITAL MARKETS OVERVIEW PALM BEACH ►►Ability to raise funds across the capital structure: 3801 PGA Boulevard Suite 802 • Senior Secured Debt • High Debt Palm Beach Gardens, FL 33410 (561) 214-7901 • Second Lien Debt • Hybrid Debt/Equity Securities • Convertible Debt • Preferred Equity SAN FRANCISCO One California Street • Mezzanine and Subordinated Debt • Common Equity Suite 3025 San Francisco, CA 94111 ►►Significant experience in volatile markets (415) 615-4000 | (877) 615-4040 • Transactions ranging from $10 million to $500 million ►►Experts at monetizing illiquid assets such as trade claims www.imperialcapital.com

MERGERS & ACQUISITIONS OVERVIEW ►►Strong buy-side, sell-side and stressed situations experience ►►Expertise in strategic acquisition of companies through purchase of their debt ►►Ability to provide/arrange acquisition financing for buyers even in tough markets ►►Transactions ranging from $25 million to $1 billion ►►Board advisory/strategic alternatives

RESTRUCTURING ADVISORY OVERVIEW ►►In and out of court advisory engagements ►►Relationships with lenders, creditors, financial sponsors and insolvency experts ►►Extensive capital markets distribution capabilities, including DIP and rescue financings ►►Experts in and contested situations ►►Post reorganization securities coverage ►►Expert witness testimony ►►Integration of valuation and monetization of trade claims

INSTITUTIONAL SALES & TRADING Our global sales and trading professionals meet the demand for a new, integrated trading model. We specialize in understanding and transacting in all components of an issuer’s capital structure. We have an experienced sales force that markets opportunistic and real-time trading opportunities based on our proprietary research. Our goal is superior execution for our institutional investor clients, particularly where we can capitalize on market inefficiencies and other unique opportunities identified by our research. ►►Ability to trade across the corporate capital structure: • High Yield Bonds • Convertible Bonds & Preferred • Structured Products • Distressed Debt • Common Stock • Options & Warrants • Hybrid/Preferred Securities • Reorganized & Special Situations Equities • Issuer Repurchases • Investment Grade Bonds • Bank Debt • Illiquid & Orphaned Securities

INSTITUTIONAL RESEARCH Imperial Capital’s global institutional research is differentiated by its integrated approach across an issuer’s entire capital structure. In contrast to the traditional and equity model, our emphasis is on relative values throughout the capital structure within industries where we have deep expertise. We provide proprietary investment analyses in fixed income, convertibles and busted convertibles, equity and including: • Bank Debt • Investment Grade/Crossover Debt • Reorganized Equity • Second Lien Debt • Hybrid Debt/Equity Securities • Private & Unlisted Equity • Convertible Debt • High Yield Debt • Listed Common Equity • Mezzanine & Subordinated Debt • Preferred Equity

We have extensive experience understanding complex capital structures and special situations such as and restructurings. We deliver timely research and analysis to our clients. In addition to providing recommendations on specific securities and event-driven opportunities, we also provide valuable insight into important industry trends. We accomplish this through three distinct research operations: Capital Structure Analysis, Desk Analysis and Industry Analysis.

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